Daily Forex Forecasts 22-mar-2005 09:00GMT

Daily Forex Forecasts 22-mar-2005 08:30GMT

EUR/USD

Resistance levels: 1.3180/ 1.3205/ 1.3225
Support levels: 1.3140/ 1.3080/ 1.3055

EUR/USD fell to 1.3140 and now there are chances for upmove towards 1.3225,before the final downwave towards 1.3055.Now the pair meets first Resistance at 1.3180 and stronger one at 1.3205.The key Support stands at 1.3140.

Strategy-neutral.
USD/JPY

Resistance levels:105.25-35/105.60
Support levels:104.45/104.10/103.80

USD/JPY found strong Resistance at 105.30 as expected and fell towards 104.65 and then 104.20.The upside is well protected by 105.60 strong Resistance.The key Support stands at 103.80.

Holding USD Short at 105.30,Stop-loss-105.30(from 105.50),Take profit-104.65.
EUR/JPY

Resistance levels:138.80-90/139.50/139.85-90
Support levels: 138.35/138.10/137.90

The Cross fell to 138.02 as expected.At these levels the pair found temporary Support.Now rise towards 138.80-90 strong Resistance may be seen soon,before the next downmove towards 138.00-137.90.The key Support stands
at 138.10.

Sell EUR at 138.85,Stop-loss-139.05,Take profit-138.10.
GBP/USD

Resistance level:1.9050/1.9100-1.9110
Support levels:1.8950/1.8925

GBP/USD maintain focus on the important 1.8925-50 Support area. The upside meets resistance at 1.9100-10.Now rise towards 1.9050 and 1.9100 may be seen before eventual final downwave towards 1.8930.The key Support stands
at 1.8950.

Buy GBP at currenr levels,Stop-loss-1.8990,Take profit-1.9100